Dan Dreyfus
speaker
166 appearances
3 recordings
2 series
first heard Jun 2026
last heard 12 Jun
Dan Dreyfus’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 3.
Appearances
The replacement cost is $45 billion.
And because they've got debt, it means that the equity value, just to get to replacement cost, is more than a double from where it's trading today.
And if you follow Sam's playbook, then we ultimately end this cycle at a big premium to replacement value.
So when I see this, I say the plan for America on the power side has to be this, make America great again, copy China.
If you look at what China did,
over the last 20 years, we started out this cycle with having 2x the power generation that China had.
Fast forward to today, China has three times the power generation capacity that we have.
Now, if you believe that artificial intelligence is going to be responsible
scientific breakthroughs.
You either have it or you don't have the scientific breakthroughs.
You believe that artificial intelligence is going to drive robotics.
You either have it or you don't have that productivity from the robots.
If you believe that artificial intelligence is going to be helpful for national security and military affairs, then you either have it or you're dead.
And so this is an absolutely mandatory build out that we have to do, otherwise we're going to fall behind.
Because at the end of the day, what is a data center?
In my world, in the commodities world, I look at the data center as the exact same thing as a refinery.
In a traditional hydrocarbon refinery, you put oil in, crude oil in, you refine it into jet fuel or gasoline for your car.
With a data center, you put electricity in, and on the other end, instead of gasoline or jet fuel, out comes photons or tokens or intelligence, whatever you want to call it, but it's the same thing.
Big capital-intensive asset, $50 billion per gigawatt.
And power, just like electricity, just like oil, is the input to that refinery.
Showing 41–60 of 166 · page 3 of 9
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